You should do everything possible to extract the deposit from M&W and terminate the arrangement with them. This should not affect your tenant as there should be a separate Tenancy Agreement between you and the tenant that is independent of your arrangement with M&W. M&W may argue that you cannot break the contract with them but there is a strong possibility that those terms and conditions are invalid for a number of reasons and if the deposit that they are holding becomes unprotected then that may be a fundamental breach of contract and the arrangement with M&W would,if that was the case, come to an end. Even if what I say is right (and it might not be) there remains the problem of M&W actually agreeing to release the deposit.

The issue is that the system needs to be changed to prevent people with a conviction from being involved in businesses where they handle client money. The financial services industry is heavily regulated and the Financial Conduct Authority has to approve individuals working in the industry, including company directors as being 'fit and proper'. They also regulate the way businesses are run. A person with a conviction for benefit fraud would be barred from the financial services industry probably for life. Similar standards should be applied to letting agents. A fraudster will always take advantage if the system allows them the opportunity so change the system. I have written to my local MP about my experiences in this case and perhaps other should do something similar. It might also be worth alerting the national press to the story.

Its a complete mess. I cannot see that the terms and conditions can have any validity, even if they were signed. I do not understand how my deposits registered a deposit in the name of something which has no legal identity. If the industry was properly regulated this would be far less likely to happen.

I see. I've written to my MP about this specific matter and the question of the regulation of letting agents generally and I will first await that response. I'm also going to press mydeposit as they seem to have accepted a deposit from a company that doesn't exist.

What is DOM?

The invoice which was dated January this year and was issued by M&W Property Consultants Limited. I was mistaken and I have just noticed the following VAT number 161 5137 31 on the invoice. The correspondence from mydeposit refers to M&W Residential Lettings and the unsigned terms and conditions that M&W issued refers only to M&W and not to a company. Another reason I think why those terms and conditions are invalid.

I have looked at an invoice that I received from M&W some months ago on which they charged VAT. The invoice does not state their VAT number which it is legally required to do if it is VAT registered. So either they are not registered for VAT but fraudulently adding VAT or they have merely omitted to include the VAT number which is a technical breach and a lot less serious. I supplied them with an EPC on my property but have notified Trading Standards because of a number of issues I have had with M&W not dissimilar to those mentioned by others on this site.

I have had lots of issues with them.